US-Africa Partnership: Strengthening Trade, Investment, and the African Free Trade Area.
This Act aims to deepen trade and investment cooperation between the US and Africa, focusing on supporting the African Continental Free Trade Area (AfCFTA). While primarily focused on foreign policy and international trade, the long-term goal is to create new business opportunities for US companies, including those owned by the African diaspora, potentially leading to economic growth and job creation in the US. Citizens can expect their government to actively promote American interests in Africa, influencing global supply chains and potentially lowering the cost of certain goods.
Key points
Support for US Businesses: The US government must develop a strategy to help American enterprises, especially in sectors with a comparative advantage, increase trade and investment in Africa.
New Cooperation Areas: The Act authorizes negotiations with AfCFTA on key issues like manufacturing, agriculture, digital trade, anti-corruption, and the protection of labor rights and the environment.
Trade Development Funding: It authorizes $50 million annually (2025-2034) for the US Agency for International Development (USAID) to fund trade capacity building programs in Africa.
Transparency and Reporting: Regular, public reporting (biennially for 8 years, followed by a final report) is required on the progress, challenges, and expenditures related to implementing this strategy.
Expired
Citizen Poll